Accordant Advisory Group Inc Grows Position in Weyerhaeuser (NYSE:WY)

23 Oct 2024, 10:54 by Sarita Garza · The Markets Daily

Accordant Advisory Group Inc raised its holdings in shares of Weyerhaeuser (NYSE:WY – Free Report) by 4.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 83,821 shares of the real estate investment trust’s stock after purchasing an additional 3,545 shares during the period. Weyerhaeuser accounts for about 2.3% of Accordant Advisory Group Inc’s portfolio, making the stock its 13th largest position. Accordant Advisory Group Inc’s holdings in Weyerhaeuser were worth $2,838,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Weyerhaeuser by 3.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 896,881 shares of the real estate investment trust’s stock worth $32,207,000 after purchasing an additional 31,355 shares during the last quarter. M&G Plc lifted its position in shares of Weyerhaeuser by 16.2% during the second quarter. M&G Plc now owns 1,961,969 shares of the real estate investment trust’s stock valued at $54,935,000 after buying an additional 273,291 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Weyerhaeuser by 243.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,530 shares of the real estate investment trust’s stock valued at $12,300,000 after buying an additional 242,744 shares in the last quarter. Natixis grew its position in shares of Weyerhaeuser by 1,026.4% in the 1st quarter. Natixis now owns 79,498 shares of the real estate investment trust’s stock worth $2,855,000 after buying an additional 72,440 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Weyerhaeuser by 52.3% during the 1st quarter. SG Americas Securities LLC now owns 116,024 shares of the real estate investment trust’s stock worth $4,166,000 after acquiring an additional 39,845 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $31.65 on Wednesday. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27. The business’s 50 day moving average price is $31.93 and its 200 day moving average price is $30.87. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.48. The firm has a market cap of $23.07 billion, a P/E ratio of 28.77 and a beta of 1.40.

Weyerhaeuser (NYSE:WY – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts expect that Weyerhaeuser will post 0.48 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.53%. Weyerhaeuser’s payout ratio is currently 72.73%.

Insider Buying and Selling at Weyerhaeuser

In related news, Director James Calvin O’rourke bought 7,800 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $32.01 per share, with a total value of $249,678.00. Following the completion of the acquisition, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Albert Monaco acquired 31,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was acquired at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the transaction, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Calvin O’rourke bought 7,800 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the transaction, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

WY has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their target price on Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 target price on shares of Weyerhaeuser in a research report on Tuesday, July 30th. DA Davidson lowered their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, Truist Financial upped their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Weyerhaeuser presently has an average rating of “Hold” and a consensus target price of $36.33.

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